Industrial properties in Eden Prairie, New Brighton Roseville are sold

Blog Post by: Janet Moore

June 4, 2013 - 10:53 AM

Four industrial properties in the suburban Twin Cities and one in North Dakota were sold recent for $19.5 million.

The seller was Investors Real Estate Trust, a Minot, N.D., real estate investment trust that is disposing of selected assets and reallocating resources to development projects. IRET's strategy is to own and operate income-producing multi-family residential and commercial properties primarily in the Upper Midwest.

The buyer was not disclosed.

The properties include: the 41,880-square-foot Bodycote Industrial building in Eden Prairie, which sold for $3.1 million, the 49,620-square-foot Metal Improvement building inNew Brighton for $9.3 million, a 172,057-square-foot building in Roseville, and a 42,244-square-foot building in Fargo.